Pedestrians walk passed signage at Cigna Corp. headquarters in Bloomfield, Connecticut, U.S., on Tuesday, Nov. 22, 2016. Anthem Inc.’s proposed $48 billion merger with Cigna Corp.
Cigna joined the parade of health insurance companies and biotech giants backing GNS Healthcare, a technology firm applying machine learning to healthcare through precision medicine.
GNS said Tuesday it has raised $23 million led by Cigna Ventures as the health insurer looks to more precisely “match therapeutics, procedures and care management interventions to individuals to drive personalized clinical care,” GNS and Cigna said in a statement.
The Cigna investment fits the effort by health insurance companies to use claims data and related patient health information to better target illness and provide more cost-effective and high quality patient care. These efforts are also consistent with health insurer efforts to move away from fee-for-service medicine to value-based models that manage populations of patients, making sure healthcare is delivered in the right place, at the right time and in the right amount.
“GNS aligns with our vision and together we can super-charge our advanced analytics capabilities and provide even deeper, more predictable insights that will further enhance customer access to the highest quality treatment and care, in the preferred and appropriate place, at the right time,” Tom Richards, Cigna’s global lead, strategy business development said in a statement accompanying the announcement about the GNS investment.
Prior to the latest investment led by Cigna and announced Tuesday, GNS had raised $38 million from several investors including Celgene and Amgen Ventures, the venture arm of the drug maker Amgen. Other GNS investors include health plans like Horizon Blue Cross of New Jersey and Cambia Health Solutions, which operates Blue Cross and Blue Shield plans in several states in the Pacific Northwest.
Date: July 11, 2019